GCC
September Basrah Heavy Cargo sold at OSP +$1.37 on DME Auctions
Dubai Mercantile Exchange hosted its latest auction on Wednesday, on behalf of Iraq’s National Oil Company, SOMO.
The 2-million barrel cargo of Basrah Heavy was awarded at a premium of $1.37 per barrel over the September Basrah Heavy Official Selling Price (OSP). 28 companies logged into the auction with 17 active bidders and more than 25 bids during the two-minute auction. Over 50 companies have now registered with DME to access SOMO auctions.
SOMO has sold a total of 10 million barrels of crude oil via DME Auctions since April of this year. In June, a Basrah Heavy cargo for August loading was auctioned at a premium of $1.18 per barrel. The stronger premium for the September-loading cargo reflects the anticipated tighter market for heavy crude oil later in the year, with OPEC cuts expected to reduce availability in the spot market.
What is El Nino – And How Is It Expected To Affect Oman’s Weather & Economy?
VIDEO: Building Oman’s Future – SAH’s Vision for Infrastructure, Innovation and Growth
The Hidden Price of Convenience: What People in Oman Spend on Food Delivery, Coffee & Subscriptions
VIDEO: Oman Cables Breaks Ground on OMR 10 Million-Plus Plant to Power Oman’s Industrial Future
Liva Insurance Recognised for Leadership in Insurance Innovation and Digital Transformation at OERLive DX Oman
Oman Air Launches Winter Schedule with Additional Frequencies, Expanded Capacity & New Codeshare Destinations
IHE and Eicher Trucks and Buses promote school bus safety awareness among students
India’s rising edge in oil, gas and construction projects is enabling Middle East’s growth
The Financial Services Authority organises the National Health Insurance Platform Forum ‘Dhamani’
Is India’s accelerating export engine driving manufacturing towards global scale?
Power And Beyond: The Path To A Low-carbon Future
Al Mouj Muscat unveils Ghadeer Villas
Time to Buy Saudi Stocks? Some Investors Look at Dubai Instead
Hospitality Industry in Oman Estimated 90% Growth in 2022
Renewables are booming, but not fast enough to cap greenhouse emissions
Retail Abu Dhabi’s ‘Unbox Amazing’ generates sales of more than AED 2 billion in participating stores
Saudis Sign Deals From Energy to Metals in Bid to Salvage Forum
Saudi Arabia’s Gold Miner Plans to Be a Global Top-20 Supplier
Technology to drive Sultanate’s downstream industry
Digitization and Logistics Service Providers Can Help SMEs Make the Most of Peak Season Retail Trends
VIDEO: Building Oman’s Future – SAH’s Vision for Infrastructure, Innovation and Growth
VIDEO: Oman Cables Breaks Ground on OMR 10 Million-Plus Plant to Power Oman’s Industrial Future
VIDEO: Hitesh Akarte on Khimji Ramdas Infrastructure’s Role in Oman Vision 2040
Oman’s Hospitality Sector Enters a New Phase of Growth: Sadiq Al Matwani Al Lawati
Amr Baabood: Oman Climate Week Is About Moving From Climate Ambition to Climate Action
Mayan Al Asfoor on Leadership, Legacy and Empowering Omani Talent
LEADERSPEAK: Dhofar Insurance CEO Sunil Kohli on Oman’s Insurance Sector, Reinsurance & Market Outlook
VIDEO: Robert MacLean on how NHI is Shaping Oman’s Next Generation of Hospitality Leaders
The Future of Oman: Decoding The Sultanate of Oman’s Strategic Promotional Nation Brand
EXCLUSIVE: AI, Robotics & Wearable Sensors are Changing the Lives of Dementia Patients
-
Artificial Intelligence1 month agoTop 5 Interesting Things AI Did This Month – September 2026 Edition
-
Fashion3 weeks agoLuxury Watches That Could Appreciate Over the Next Decade [2026 Auction Buyer Guide]
-
Economy3 weeks agoOER Magazine September Edition 2026
-
Banking & Finance1 month agoThe GCC’s 10 Richest Billionaires: Inside US$253.5 Billion of Wealth
-
Magazines2 months agoOER Magazine July Edition 2026
-
Magazines2 months agoAl Mar’a Magazine July 2026
-
Banking & Finance1 month agoINVESTIGATION: What If You Bought Apple Stock Every Time You Bought an iPhone?
-
Alamaliktistaad Magazines2 months agoAlam Al-Iktisaad Magazine July 2026 Edition
You must be logged in to post a comment Login